DCE: Iron ore closes sharply higher amid rising Chinese demand.

In the evening session this Friday (20), the May contract of iron ore in Dalian Exchange (DCE) It ended with a strong increase of 1.05%, at 815.5 yuan (US$118.29) per ton. On the other hand, the steelmaking ingredient accumulated a loss of 0.43% for the week.

In this trading session, prices for the steelmaking ingredient were driven by high demand from China. According to the Shanghai Metals MarketThe average daily production of pig iron in 242 industries increased by 28,000 tons compared to the previous week. 

Furthermore, the administration of Beijing resumed the temporary suspensions on the purchase of fine wines. Jimblebar iron ore from the Australian BHPThe measure was imposed amid a dispute between the company and the China Mineral Resources Groupwhich is supported by the state. 

Limiting further gains, China's crude iron ore production in January and February rose 1.3% compared to the same period of the previous year, to 161.64 million tons.

This text was translated by machine from Brazilian Portuguese.